La. Admin. Code tit. 46 § LXVII-30401

Current through Register Vol. 50, No. 12, December 20, 2024

Section LXVII-30401 - Appraiser License Verification

A. Prior to making an assignment to a real estate fee appraiser, licensees shall have a system in place to verify that the appraiser holds a license in good standing in this state pursuant to the Louisiana Real Estate Appraisers Law, R.S. 37:3391 et seq. Licensees may rely on the National Registry of the Appraisal Subcommittee for purposes of appraiser license verification. Before or at the time of making an assignment to a real estate fee appraiser, licensees shall obtain a written certification from the appraiser that he or she:

1. is competent in the property type of the assignment;

2. is competent in the geographical area of the assignment;

3. has access to appropriate data sources for the assignment;

4. will immediately notify the licensee in writing if the appraiser later determines that he or she is not qualified to complete the assignment; and

5. is aware that misrepresentation of competency may be subject to the mandatory reporting requirement in the most current version of the Uniform Standards of Professional Appraisal Practice (USPAP).

B. Subsequent to a completed appraisal being submitted to the assigning licensee, any request for additional information that may impact or alter the opinion of value stated therein shall be made by the certified appraiser completing the appraisal review.

La. Admin. Code tit. 46, § LXVII-30401

Promulgated by the Office of the Governor, Real Estate Appraisers Board, LR 39:3072 (November 2013).

AUTHORITY NOTE: Promulgated in accordance with R.S. 37:3415.1 et seq.